{"id":216650,"date":"2020-06-15T13:42:17","date_gmt":"2020-06-15T13:42:17","guid":{"rendered":"http:\/\/151.106.38.4\/2020\/06\/15\/bitcoin-drops-below-9-000-level\/"},"modified":"2020-06-15T13:42:17","modified_gmt":"2020-06-15T13:42:17","slug":"bitcoin-drops-below-9-000-level","status":"publish","type":"post","link":"https:\/\/nagalandpost.net\/index.php\/2020\/06\/15\/bitcoin-drops-below-9-000-level\/","title":{"rendered":"Bitcoin drops below $9,000 level"},"content":{"rendered":"

<\/p>\n

Bitcoin slid below $9,000 on Monday for the first time since May, joining a downdraft in global equities begun during Asia hours amid growing concern about the risks of a second wave of coronavirus infections.<\/p>\n

The largest cryptocurrency tumbled as much as 5.1% Monday and recovered to about $9,100 as of 8:55 a.m. in London, according to consolidated pricing data from Bloomberg. For the first time since the end of April, the token dipped below its 50-day moving average, a level that’s considered a point of resistance for some traders.<\/p>\n

Bitcoin has flirted with $10,000 since May, failing to sustain a rally above that key psychological level after the closely watched “halving” industry event that reduced the amount of the cryptocurrency earned by miners.<\/p>\n

Stocks slid globally on Monday alongside US equity futures, in an echo of last Thursday’s risk-off mode. Chinese economic data Monday disappointed investors, with a smaller bounce back in May than economists expected. On the virus front the US showed a pick-up in cases, Tokyo reported a jump of its own over the weekend and China is racing to contain a new outbreak in Beijing that reached nearly 100 infections.<\/p>\n

“I think it’s definitely part of the broader sell-off that we also saw in equities last week,” said Vijay Ayyar, head of business development with crypto exchange Luno. “We tapped liquidity at the $10,000 level and are now coming back down. I expect $8,500 to hold, but if not we’re looking at $7,700 and then $7,100.” The wider Bloomberg Galaxy Crypto Index declined on Monday as much as 6.5% as rival digital currencies including Ether, XRP and Litecoin also retreated.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin drops below $9,000 level<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[667],"tags":[],"class_list":["post-216650","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/216650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=216650"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/216650\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=216650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=216650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=216650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}